FX.co ★ Daily analysis of Silver for March 13, 2017

Overview

Silver price is trading a bit higher since it settled above the 17.00 level early today. We are waiting for an obvious upward bias to test 17.43. Let me remind you that breaching this level will push the price towards our next upward target at 18.30. Therefore, we can keep our bullish trend expectations for the short term unless 16.85 and 16.56 levels are broken and the price holds below them. In case those levels are broken, it will make the price extend its losses and target 15.49 directly. The expected trading range for today is between 16.85 support and 17.43 resistance.